<SEC-DOCUMENT>0001628280-16-016339.txt : 20160513
<SEC-HEADER>0001628280-16-016339.hdr.sgml : 20160513
<ACCEPTANCE-DATETIME>20160513164706
ACCESSION NUMBER:		0001628280-16-016339
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20160513
ITEM INFORMATION:		Results of Operations and Financial Condition
FILED AS OF DATE:		20160513
DATE AS OF CHANGE:		20160513

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CUMBERLAND PHARMACEUTICALS INC
		CENTRAL INDEX KEY:			0001087294
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				000000000

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-33637
		FILM NUMBER:		161649079

	BUSINESS ADDRESS:	
		STREET 1:		2525 WEST END AVENUE
		STREET 2:		SUITE 950
		CITY:			NASHVILLE,
		STATE:			TN
		ZIP:			37203
		BUSINESS PHONE:		615-255-0068

	MAIL ADDRESS:	
		STREET 1:		2525 WEST END AVENUE
		STREET 2:		SUITE 950
		CITY:			NASHVILLE
		STATE:			TN
		ZIP:			37203
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>q120168k-earningsrelease.htm
<DESCRIPTION>8-K
<TEXT>
<!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd">
<html>
	<head>
		<!-- Document created using Wdesk 1 -->
		<!-- Copyright 2016 Workiva -->
		<title>SEC Document</title>
	</head>
	<body style="font-family:Times New Roman;font-size:10pt;">
<div><a name="sB598788A3CE7542A84009548AA352A2B"></a></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:center;font-size:13pt;"><font style="font-family:inherit;font-size:13pt;">UNITED STATES</font></div><div style="line-height:120%;text-align:center;font-size:13pt;"><font style="font-family:inherit;font-size:13pt;">SECURITIES AND EXCHANGE COMMISSION</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">WASHINGTON, D.C. 20549</font></div><div style="line-height:120%;padding-top:15px;text-align:center;font-size:18pt;"><font style="font-family:inherit;font-size:18pt;">FORM 8-K</font></div><div style="line-height:120%;padding-top:15px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">CURRENT REPORT</font></div><div style="line-height:120%;padding-top:15px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Pursuant to Section&#160;13 or 15(d) of the Securities Exchange Act of 1934</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="3"></td></tr><tr><td style="width:51%;"></td><td style="width:5%;"></td><td style="width:44%;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Date of Report (Date of Earliest Event Reported):</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">May 13, 2016 (May 10, 2016)</font></div></td></tr></table></div></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-top:15px;text-align:center;font-size:24pt;"><font style="font-family:inherit;font-size:24pt;">Cumberland Pharmaceuticals Inc.</font><font style="font-family:inherit;font-size:10pt;">&#32;</font></div><div style="line-height:120%;padding-top:15px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">__________________________________________</font></div><div style="line-height:120%;padding-top:15px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(Exact name of registrant as specified in its charter)</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="6"></td></tr><tr><td style="width:0%;"></td><td style="width:33%;"></td><td style="width:18%;"></td><td style="width:5%;"></td><td style="width:11%;"></td><td style="width:33%;"></td></tr><tr><td><font>&#160;</font></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td><font>&#160;</font></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Tennessee</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">001-33637</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">62-1765329</font></div></td></tr><tr><td><font>&#160;</font></td><td rowspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(State or other jurisdiction of incorporation)</font></div></td><td colspan="3" rowspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(Commission File Number)</font></div></td><td rowspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(I.R.S. Employer Identification No.)</font></div></td></tr><tr><td><font>&#160;</font></td></tr><tr><td><font>&#160;</font></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td><font>&#160;</font></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2525 West End Avenue, Suite 950, Nashville, Tennessee</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">37203</font></div></td></tr><tr><td><font>&#160;</font></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(Address of principal executive offices)</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(Zip Code)</font></div></td></tr><tr><td><font>&#160;</font></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td><font>&#160;</font></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Registrant's telephone number, including area code:</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(615) 255-0068</font></div></td></tr></table></div></div><div style="line-height:120%;padding-top:15px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Not Applicable</font></div><div style="line-height:120%;padding-top:15px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">____________________________________________</font></div><div style="line-height:120%;padding-top:15px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Former name or former address, if changed since last report</font></div><div style="line-height:120%;padding-top:15px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">[&#160;&#160;]&#160;&#160;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">[&#160;&#160;]&#160;&#160;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">[&#160;&#160;]&#160;&#160;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">[&#160;&#160;]&#160;&#160;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></div><div><br></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-top:15px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Item 2.02 Results of Operations and Financial Condition.</font></div><div style="line-height:120%;padding-top:15px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On </font><font style="font-family:inherit;font-size:10pt;">May&#160;10, 2016</font><font style="font-family:inherit;font-size:10pt;">, Cumberland Pharmaceuticals Inc. (the "Company") issued a press release announcing the operating results for the three and </font><font style="font-family:inherit;font-size:10pt;">three months ended March 31, 2016</font><font style="font-family:inherit;font-size:10pt;">.  A copy of the press release is furnished as Exhibit 99.1.</font></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">This information is furnished pursuant to Item 2.02 of Form 8-K and shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, unless specifically incorporated by reference in a document filed under the Securities Act of 1933, as amended, or the Exchange Act. By filing this report on Form 8-K and furnishing this information, the Company makes no admission as to the materiality of any information in this report that is required to be disclosed solely by Item 2.02.</font></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-top:15px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div><br></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-top:15px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-top:15px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">SIGNATURES</font></div><div style="line-height:120%;padding-top:15px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</font></div><div style="line-height:120%;padding-top:15px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="7"></td></tr><tr><td style="width:24%;"></td><td style="width:13%;"></td><td style="width:12%;"></td><td style="width:13%;"></td><td style="width:12%;"></td><td style="width:13%;"></td><td style="width:13%;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Cumberland Pharmaceuticals Inc.</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Dated: May 13, 2016</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">By:</font></div></td><td colspan="2" style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">/s/ A.J. Kazimi</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">A.J. Kazimi</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Chief Executive Officer</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">By:</font></div></td><td colspan="2" style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">/s/ Michael Bonner</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Michael Bonner</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Chief Financial Officer</font></div></td></tr></table></div></div><div style="line-height:120%;padding-top:15px;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-top:15px;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-top:15px;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-top:15px;text-align:left;text-indent:384px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;padding-top:15px;text-align:left;text-indent:288px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;padding-top:15px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;text-indent:384px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;text-align:left;text-indent:384px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;padding-top:15px;text-align:left;text-indent:96px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><hr></div><div style="line-height:120%;padding-top:15px;text-align:left;text-indent:288px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;padding-top:15px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Exhibit&#160;Index </font></div><div style="line-height:120%;padding-top:15px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:76.5625%;border-collapse:collapse;text-align:left;"><tr><td colspan="3"></td></tr><tr><td style="width:20%;"></td><td style="width:13%;"></td><td style="width:67%;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;font-weight:bold;">Exhibit No.</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;font-weight:bold;">Description</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">99.1</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Press release dated May 10, 2016</font></div></td></tr></table></div></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div><br></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div>	</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>q12016-ex991earningsrelease.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd">
<html>
	<head>
		<!-- Document created using Wdesk 1 -->
		<!-- Copyright 2016 Workiva -->
		<title>SEC Exhibit</title>
	</head>
	<body style="font-family:Times New Roman;font-size:10pt;">
<div><a name="s43258A568EAD515CB7D445576C4535C5"></a></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;"><img src="cumberlandpharmaimageaa01.jpg" style="height:92px;width:408px;"></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:174%;padding-top:10px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">CUMBERLAND PHARMACEUTICALS REPORTS</font></div><div style="line-height:174%;padding-top:10px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">FIRST QUARTER 2016 FINANCIAL RESULTS</font></div><div style="line-height:120%;padding-top:10px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-bottom:13px;padding-top:10px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-style:italic;">-  Caldolor</font><font style="font-family:inherit;font-size:12pt;font-style:italic;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:8pt">&#174;</sup></font><font style="font-family:inherit;font-size:12pt;font-style:italic;">&#32;Launched for Use in Pediatric Patients</font></div><div style="line-height:120%;padding-top:14px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-style:italic;">&#32;&#32;&#32;&#32;&#32;&#32;&#32;&#32;&#32;&#32;&#32;&#32;&#32;&#32;&#32;&#32;&#32;&#32;&#32;&#32;&#32;&#32;&#32;&#32;&#32;&#32;&#32;&#32;&#32;&#32;&#32;&#32;&#32;&#32;&#32;&#32;&#32;&#32;- Co-Promotion Underway to Support Hospital Products</font></div><div style="line-height:120%;padding-top:10px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-top:10px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">NASHVILLE, TN (Tuesday, May 10, 2016) - Cumberland Pharmaceuticals Inc. (NASDAQ: CPIX)</font><font style="font-family:inherit;font-size:12pt;">, a specialty pharmaceutical company focused on hospital acute care and gastroenterology, today announced </font><font style="font-family:inherit;font-size:12pt;">first quarter</font><font style="font-family:inherit;font-size:12pt;">&#32;</font><font style="font-family:inherit;font-size:12pt;">2016</font><font style="font-family:inherit;font-size:12pt;">&#32;financial results with Net Revenues of </font><font style="font-family:inherit;font-size:12pt;">$7.7 million</font><font style="font-family:inherit;font-size:12pt;">&#32;and Adjusted Earnings of </font><font style="font-family:inherit;font-size:12pt;">$0.3 million</font><font style="font-family:inherit;font-size:12pt;">&#32;or </font><font style="font-family:inherit;font-size:12pt;">$0.02</font><font style="font-family:inherit;font-size:12pt;">&#32;per share. </font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">As of </font><font style="font-family:inherit;font-size:12pt;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:12pt;">, the Company had just under $90 million in Total Assets including over </font><font style="font-family:inherit;font-size:12pt;">$51 million</font><font style="font-family:inherit;font-size:12pt;">&#32;in cash and marketable securities. Total Liabilities were approximately </font><font style="font-family:inherit;font-size:12pt;">$14 million</font><font style="font-family:inherit;font-size:12pt;">&#32;and Total Shareholder&#8217;s Equity was just over </font><font style="font-family:inherit;font-size:12pt;">$75 million</font><font style="font-family:inherit;font-size:12pt;">. Cumberland also had approximately </font><font style="font-family:inherit;font-size:12pt;">$43 million</font><font style="font-family:inherit;font-size:12pt;">&#32;in tax net operating loss carryforwards, resulting from the prior exercise of stock options.</font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">"During the first quarter, we began to build upon the foundation we established in 2015&#8221; said A.J. Kazimi, Chief Executive Officer of Cumberland Pharmaceuticals. "We have already had a series of positive developments this year that we expect to make important contributions toward our goal of delivering long-term sustainable growth.&#8221;</font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-bottom:13px;padding-top:8px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;text-decoration:underline;">QUARTER HIGHLIGHTS:</font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Caldolor</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:8pt">&#174; </sup></font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Pediatric Launch</font></div><div style="line-height:120%;padding-top:14px;text-align:left;padding-left:6px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Cumberland launched the promotion of Caldolor for the treatment of pain and fever in children at its National Sales Meeting in March. Caldolor has been approved for use in adults for the management of pain, as well as the reduction of fever, since 2009. The Company received pediatric approval and three year exclusivity from the FDA of Caldolor for use in children six months of age and older in November 2015. Cumberland seeks to maximize the potential of its FDA approved product line and expand the use of its products into new patient populations. The pediatric approval and launch of Caldolor for use in children is one more achievement toward supporting those objectives.</font></div><div style="line-height:120%;padding-bottom:13px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-bottom:13px;padding-top:8px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div><br></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;padding-left:6px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Hospital Co-Promotion</font></div><div style="line-height:120%;padding-top:13px;text-align:left;padding-left:6px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">During the first quarter, Cumberland launched a co-promotion agreement with Piramal Critical Care</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">&#32;</font><font style="font-family:inherit;font-size:12pt;">to increase the support for our Caldolor</font><font style="font-family:inherit;font-size:12pt;"><sup style="vertical-align:top;line-height:120%;font-size:8pt">&#174;</sup></font><font style="font-family:inherit;font-size:12pt;">&#32;and Vaprisol</font><font style="font-family:inherit;font-size:12pt;"><sup style="vertical-align:top;line-height:120%;font-size:8pt">&#174;</sup></font><font style="font-family:inherit;font-size:12pt;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:8pt"> </sup></font><font style="font-family:inherit;font-size:12pt;">brands.</font></div><div style="line-height:120%;padding-top:13px;text-align:left;padding-left:6px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">This collaboration provides coverage to an additional group of hospitals where Piramal's critical care sales force has existing relationships. The Company expects this new initiative to provide expanded promotional coverage and increased communication to medical professionals in support of these two brands.</font></div><div style="line-height:120%;padding-top:13px;text-align:left;padding-left:6px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-top:4px;text-align:justify;padding-left:6px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;text-decoration:underline;">RECENT DEVELOPMENTS:</font></div><div style="line-height:120%;padding-top:4px;text-align:justify;padding-left:6px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;padding-left:6px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Vasculan&#8482; Program</font></div><div style="line-height:120%;padding-top:13px;text-align:justify;padding-left:6px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Cumberland recently announced a new clinical program to develop Vasculan</font><font style="font-family:inherit;font-size:12pt;"><sup style="vertical-align:top;line-height:120%;font-size:8pt">&#8482;</sup></font><font style="font-family:inherit;font-size:12pt;">&#32;(ifetroban) oral capsule for the treatment of systemic sclerosis.  Systemic sclerosis (SSc), also called scleroderma, is a rare autoimmune disorder that affects the skin and internal organs. It is characterized by vasculopathy, inflammation, and fibrosis.  This disease has a high morbidity and the highest case-specific mortality of any rheumatic disorder with 50% of patients dying or developing major internal organ complications within 3 years of diagnosis. </font></div><div style="line-height:120%;padding-top:13px;text-align:justify;padding-left:6px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Although several medications are used to treat the skin disease associated with SSc, there is no universally effective treatment to improve the function of affected internal organs such as the lungs, heart, and gastrointestinal tract, hence the treatment of SSc remains an unmet need. The U.S. Food and Drug Administration has cleared Cumberland&#8217;s investigational new drug application for a Phase II clinical program for Vasculan in patients with systemic sclerosis.</font></div><div style="line-height:120%;padding-top:4px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:13px;padding-top:4px;text-align:justify;padding-left:6px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Ethyol</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:8pt">&#174;</sup></font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">&#32;Agreement</font></div><div style="line-height:120%;padding-top:13px;text-align:justify;padding-left:6px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Earlier today, the Company announced an agreement for the commercialization of Ethyol</font><font style="font-family:inherit;font-size:12pt;"><sup style="vertical-align:top;line-height:120%;font-size:8pt">&#174;</sup></font><font style="font-family:inherit;font-size:12pt;">&#32;(amifostine) in the United States.  This is the first product to be licensed by Cumberland from Clinigen Group plc under the Strategic Alliance entered into last year and also Cumberland&#8217;s first oncology product. Under the terms of the agreement, Cumberland will be responsible for all marketing, promotion, and distribution of the product in the U.S.</font></div><div style="line-height:120%;padding-top:13px;text-align:justify;padding-left:6px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Ethyol is an FDA approved cytoprotective drug indicated as an adjuvant therapy to reduce the incidence of xerostomia (dry mouth) as a side-effect in patients undergoing post-operative radiation treatment for head and neck cancer. It also reduces the cumulative renal toxicity associated with the repeated administration of cisplatin in patients with advanced ovarian cancer.</font></div><div style="line-height:120%;padding-bottom:13px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:174%;padding-bottom:13px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;text-decoration:underline;">FINANCIAL RESULTS</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">: </font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Net Revenue:  </font><font style="font-family:inherit;font-size:12pt;">For the three months ended </font><font style="font-family:inherit;font-size:12pt;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:12pt;">, net revenues were </font><font style="font-family:inherit;font-size:12pt;">$7.7 million</font><font style="font-family:inherit;font-size:12pt;">, compared to </font><font style="font-family:inherit;font-size:12pt;">$8.7 million</font><font style="font-family:inherit;font-size:12pt;">&#32;for the prior year period.  Net revenue by product for the three months ended </font><font style="font-family:inherit;font-size:12pt;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:12pt;">, included </font><font style="font-family:inherit;font-size:12pt;">$3.6 million</font><font style="font-family:inherit;font-size:12pt;">&#32;for Kristalose</font><font style="font-family:inherit;font-size:12pt;"><sup style="vertical-align:top;line-height:120%;font-size:8pt">&#174;</sup></font><font style="font-family:inherit;font-size:12pt;">, </font><font style="font-family:inherit;font-size:12pt;">$1.8 million</font><font style="font-family:inherit;font-size:12pt;">&#32;for Acetadote</font><font style="font-family:inherit;font-size:12pt;"><sup style="vertical-align:top;line-height:120%;font-size:8pt">&#174;</sup></font><font style="font-family:inherit;font-size:12pt;">, including </font><font style="font-family:inherit;font-size:12pt;">$1.2 million</font><font style="font-family:inherit;font-size:12pt;">&#32;for the Company's Authorized Generic, </font><font style="font-family:inherit;font-size:12pt;">$1.1 million</font><font style="font-family:inherit;font-size:12pt;">&#32;for Caldolor</font><font style="font-family:inherit;font-size:12pt;"><sup style="vertical-align:top;line-height:120%;font-size:8pt">&#174;</sup></font><font style="font-family:inherit;font-size:12pt;">, </font><font style="font-family:inherit;font-size:12pt;">$0.8 million</font><font style="font-family:inherit;font-size:12pt;">&#32;for Omeclamox</font><font style="font-family:inherit;font-size:12pt;"><sup style="vertical-align:top;line-height:120%;font-size:8pt">&#174;</sup></font><font style="font-family:inherit;font-size:12pt;">-Pak, and </font><font style="font-family:inherit;font-size:12pt;">$0.4 million</font><font style="font-family:inherit;font-size:12pt;">&#32;for Vaprisol</font><font style="font-family:inherit;font-size:12pt;"><sup style="vertical-align:top;line-height:120%;font-size:8pt">&#174;</sup></font><font style="font-family:inherit;font-size:12pt;">. </font></div><div><br></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Operating Expenses:</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;Total operating expenses for the three months ended </font><font style="font-family:inherit;font-size:12pt;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:12pt;">&#32;were </font><font style="font-family:inherit;font-size:12pt;">$8.2 million</font><font style="font-family:inherit;font-size:12pt;">, compared to </font><font style="font-family:inherit;font-size:12pt;">$8.7 million</font><font style="font-family:inherit;font-size:12pt;">&#32;during the prior year period, as the Company continued its efforts to maintain expenses in line with its revenues.</font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Adjusted Earnings:</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;Adjusted Earnings for the </font><font style="font-family:inherit;font-size:12pt;">first quarter</font><font style="font-family:inherit;font-size:12pt;">&#32;were </font><font style="font-family:inherit;font-size:12pt;">$0.3 million</font><font style="font-family:inherit;font-size:12pt;">&#32;or </font><font style="font-family:inherit;font-size:12pt;">$0.02</font><font style="font-family:inherit;font-size:12pt;">&#32;per share, compared to </font><font style="font-family:inherit;font-size:12pt;">$1.6 million</font><font style="font-family:inherit;font-size:12pt;">&#32;or </font><font style="font-family:inherit;font-size:12pt;">$0.09</font><font style="font-family:inherit;font-size:12pt;">&#32;per share for the prior year period. The definition and reconciliation of Adjusted Earnings is provided in this release.</font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Balance Sheet:</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;At </font><font style="font-family:inherit;font-size:12pt;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:12pt;">, Cumberland had </font><font style="font-family:inherit;font-size:12pt;">$51.3 million</font><font style="font-family:inherit;font-size:12pt;">&#32;in cash and marketable securities, with approximately </font><font style="font-family:inherit;font-size:12pt;">$36.4 million</font><font style="font-family:inherit;font-size:12pt;">&#32;in cash and equivalents and </font><font style="font-family:inherit;font-size:12pt;">$14.9 million</font><font style="font-family:inherit;font-size:12pt;">&#32;in marketable securities.  Total Assets at </font><font style="font-family:inherit;font-size:12pt;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:12pt;">&#32;were </font><font style="font-family:inherit;font-size:12pt;">$89.2 million</font><font style="font-family:inherit;font-size:12pt;">.  Total Liabilities were </font><font style="font-family:inherit;font-size:12pt;">$13.9 million</font><font style="font-family:inherit;font-size:12pt;">, including </font><font style="font-family:inherit;font-size:12pt;">$1.7 million</font><font style="font-family:inherit;font-size:12pt;">&#32;outstanding on our revolving line of credit, resulting in Total Shareholder's Equity of </font><font style="font-family:inherit;font-size:12pt;">$75.4 million</font><font style="font-family:inherit;font-size:12pt;">.  Cumberland also had approximately </font><font style="font-family:inherit;font-size:12pt;">$43 million</font><font style="font-family:inherit;font-size:12pt;">&#32;in off-balance sheet tax net operating loss carryforwards, resulting from the prior exercise of stock options.</font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div><a name="s77BEE222EC6754A4A0880CE555C9BF47"></a></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Conference Call and Webcast</font></div><div style="line-height:120%;padding-bottom:16px;padding-top:8px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">A conference call and live Internet webcast will be held on </font><font style="font-family:inherit;font-size:12pt;">Tuesday, May&#160;10, 2016</font><font style="font-family:inherit;font-size:12pt;">&#32;at 4:30 p.m. Eastern Time to discuss the Company's </font><font style="font-family:inherit;font-size:12pt;">first quarter</font><font style="font-family:inherit;font-size:12pt;">&#32;</font><font style="font-family:inherit;font-size:12pt;">2016</font><font style="font-family:inherit;font-size:12pt;">&#32;financial results. To participate in the call, please dial 877-303-1298 (for U.S. callers) or 253-237-1032 (for international callers). A rebroadcast of the teleconference will be available for one week and can be accessed by dialing 855-859-2056 (for U.S. callers) or 404-537-3406 (for international callers). The Conference ID for the rebroadcast is 87898815. The live webcast and rebroadcast can be accessed via Cumberland's website at </font><font style="font-family:inherit;font-size:12pt;color:#0000ff;text-decoration:underline;">http://investor.shareholder.com/cpix/events.cfm</font><font style="font-family:inherit;font-size:12pt;">.</font></div><div style="line-height:120%;padding-top:10px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;text-decoration:underline;">About Cumberland Pharmaceuticals</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Cumberland Pharmaceuticals Inc.</font><font style="font-family:inherit;font-size:12pt;">&#32;is a specialty pharmaceutical company focused on the acquisition, development and commercialization of branded prescription products. The Company's primary target markets include hospital acute care and gastroenterology. Cumberland's five marketed products include Acetadote</font><font style="font-family:inherit;font-size:12pt;"><sup style="vertical-align:top;line-height:120%;font-size:8pt">&#174;</sup></font><font style="font-family:inherit;font-size:12pt;">&#32;(</font><font style="font-family:inherit;font-size:12pt;font-style:italic;">acetylcysteine</font><font style="font-family:inherit;font-size:12pt;">) Injection for the treatment of acetaminophen poisoning, Caldolor</font><font style="font-family:inherit;font-size:12pt;"><sup style="vertical-align:top;line-height:120%;font-size:8pt">&#174;</sup></font><font style="font-family:inherit;font-size:12pt;">&#32;(</font><font style="font-family:inherit;font-size:12pt;font-style:italic;">ibuprofen</font><font style="font-family:inherit;font-size:12pt;">) Injection, for the treatment of pain and fever, Kristalose</font><font style="font-family:inherit;font-size:12pt;"><sup style="vertical-align:top;line-height:120%;font-size:8pt">&#174;</sup></font><font style="font-family:inherit;font-size:12pt;">&#32;(</font><font style="font-family:inherit;font-size:12pt;font-style:italic;">lactulose</font><font style="font-family:inherit;font-size:12pt;">) for Oral Solution, a prescription laxative, Vaprisol</font><font style="font-family:inherit;font-size:12pt;"><sup style="vertical-align:top;line-height:120%;font-size:8pt">&#174; </sup></font><font style="font-family:inherit;font-size:12pt;">(</font><font style="font-family:inherit;font-size:12pt;font-style:italic;">conivaptan</font><font style="font-family:inherit;font-size:12pt;">) Injection, for the treatment of hyponatremia and Omeclamox-Pak</font><font style="font-family:inherit;font-size:12pt;"><sup style="vertical-align:top;line-height:120%;font-size:8pt">&#174;</sup></font><font style="font-family:inherit;font-size:12pt;">&#32;for the treatment of </font><font style="font-family:inherit;font-size:12pt;font-style:italic;">H. pylori </font><font style="font-family:inherit;font-size:12pt;">infection and duodenal ulcer disease. Cumberland is developing Hepatoren</font><font style="font-family:inherit;font-size:12pt;"><sup style="vertical-align:top;line-height:120%;font-size:8pt">&#174;</sup></font><font style="font-family:inherit;font-size:12pt;">&#32;</font><font style="font-family:inherit;font-size:12pt;font-style:italic;font-weight:bold;">(</font><font style="font-family:inherit;font-size:12pt;font-style:italic;">ifetroban</font><font style="font-family:inherit;font-size:12pt;">) Injection for the treatment of Hepatorenal Syndrome, Boxaban</font><font style="font-family:inherit;font-size:12pt;"><sup style="vertical-align:top;line-height:120%;font-size:8pt">&#174;</sup></font><font style="font-family:inherit;font-size:12pt;">&#32;(</font><font style="font-family:inherit;font-size:12pt;font-style:italic;">ifetroban</font><font style="font-family:inherit;font-size:12pt;">) Oral Capsule for the treatment of Aspirin- Exacerbated Respiratory Disease, and Vasculan</font><font style="font-family:inherit;font-size:12pt;"><sup style="vertical-align:top;line-height:120%;font-size:8pt">&#8482;</sup></font><font style="font-family:inherit;font-size:12pt;">&#32;(</font><font style="font-family:inherit;font-size:12pt;font-style:italic;">ifetroban</font><font style="font-family:inherit;font-size:12pt;">) Oral Capsule for the treatment of systemic sclerosis. Cumberland is dedicated to providing innovative products that improve quality of care for patients. For more information on Cumberland&#8217;s approved products, including full prescribing information, please visit the individual product websites, links to which can be found on the Company&#8217;s website </font><font style="font-family:inherit;font-size:12pt;color:#0000ff;text-decoration:underline;">www.cumberlandpharma.com</font><font style="font-family:inherit;font-size:12pt;">.</font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-top:10px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">About Acetadote</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:8pt">&#174;</sup></font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">&#32;(acetylcysteine) Injection</font></div><div style="line-height:120%;padding-bottom:13px;padding-top:8px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Acetadote, administered intravenously within 8 to 10 hours after ingestion of a potentially hepatotoxic quantity of acetaminophen, is indicated to prevent or lessen hepatic injury. Used in the emergency department, Acetadote is approved in the United States to treat overdose of acetaminophen, a common ingredient in many over-the-counter medications. Acetadote is contraindicated in patients with hypersensitivity or previous anaphylactoid reactions to acetylcysteine or any components of the preparation. Serious anaphylactoid reactions, including death in a patient with asthma, have been reported in patients administered acetylcysteine </font></div><div><br></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-bottom:13px;padding-top:8px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">intravenously. Acetadote should be used with caution in patients with asthma or where there is a history of bronchospasm. The total volume administered should be adjusted for patients weighing less than 40 kg and for those requiring fluid restriction. To avoid fluid overload, the volume of diluent should be reduced as needed. If volume is not adjusted, fluid overload can occur, potentially resulting in hyponatremia, seizure and death. For full prescribing information, visit </font><font style="font-family:inherit;font-size:12pt;color:#0563c1;text-decoration:underline;">www.acetadote.com</font><font style="font-family:inherit;font-size:12pt;">.</font></div><div style="line-height:120%;padding-bottom:8px;padding-top:13px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">About Caldolor</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:8pt">&#174;</sup></font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">&#32;(ibuprofen) Injection</font></div><div style="line-height:120%;padding-bottom:13px;padding-top:8px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Caldolor is indicated in adults and pediatric patients for the management of mild to moderate pain and management of moderate to severe pain as an adjunct to opioid analgesics, as well as the reduction of fever.  It was the first FDA-approved intravenous therapy for fever.  Caldolor is contraindicated in patients with known hypersensitivity to ibuprofen or other NSAIDs, patients with a history of asthma or other allergic type reactions after taking aspirin or other NSAIDs.  Caldolor is contraindicated for use during the peri-operative period in the setting of coronary artery bypass graft (CABG) surgery.  Caldolor should be used with caution in patients with prior history of ulcer disease or GI bleeding, in patients with fluid retention or heart failure, in the elderly, those with renal impairment, heart failure, liver impairment, and those taking diuretics or ACE inhibitors.  Blood pressure should be monitored during treatment with Caldolor.  For full prescribing information, including boxed warning, visit </font><font style="font-family:inherit;font-size:12pt;color:#0000ff;text-decoration:underline;">www.caldolor.com</font><font style="font-family:inherit;font-size:12pt;">&#32;.</font></div><div style="line-height:120%;padding-bottom:8px;padding-top:13px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">About Kristalose</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:8pt">&#174;</sup></font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">&#32;(lactulose) Oral Solution</font></div><div style="line-height:120%;padding-bottom:13px;padding-top:8px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Kristalose is indicated for the treatment of acute and chronic constipation. It is a unique, proprietary, crystalline form of lactulose, with no restrictions on length of therapy or patient age. Initial dosing may produce flatulence and intestinal cramps, which are usually transient. Excessive dosage can lead to diarrhea with potential complications such as loss of fluids, hypokalemia and hypernatremia. Nausea and vomiting have been reported. Use with caution in diabetics. Kristalose is contraindicated in patients who require a low-galactose diet. Elderly, debilitated patients who receive lactulose for more than six months should have serum electrolytes (potassium, chloride, carbon dioxide) measured periodically. For full prescribing information, visit </font><font style="font-family:inherit;font-size:12pt;color:#0000ff;text-decoration:underline;">www.kristalose.com</font><font style="font-family:inherit;font-size:12pt;">.</font></div><div style="line-height:120%;padding-bottom:8px;padding-top:13px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">About Omeclamox</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:8pt">&#174;</sup></font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">-Pak (omeprazole, clarithromycin, amoxicillin)</font></div><div style="line-height:120%;padding-bottom:13px;padding-top:8px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Omeprazole is an antisecretory drug, which works by decreasing the amount of acid the stomach produces. Clarithromycin and amoxicillin are antibacterial drugs, which inhibit the growth of bacteria allowing the stomach lining to heal. Omeclamox-Pak is contraindicated in patients with a history of hypersensitivity to omeprazole, any macrolide antibiotic or penicillin. The safety and effectiveness of Omeclamox-Pak in the pediatric population has not yet been established. Omeclamox-Pak was approved by the U.S. Food and Drug Administration in 2011. For full prescribing information, visit </font><font style="font-family:inherit;font-size:12pt;color:#0000ff;text-decoration:underline;">www.omeclamox.com</font><font style="font-family:inherit;font-size:12pt;">.</font></div><div style="line-height:120%;padding-bottom:8px;padding-top:13px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">About Vaprisol</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:8pt">&#174;</sup></font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">&#32;(conivaptan hydrochloride) Injection</font></div><div style="line-height:120%;padding-bottom:13px;padding-top:8px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Vaprisol is an intravenous treatment for hyponatremia used in the critical care setting. Hyponatremia is an electrolyte disturbance in which sodium ion concentration in blood plasma is lower than normal.  This can be associated with a variety of critical care conditions including congestive heart failure, liver failure, kidney failure and pneumonia.  The product is a vasopressin receptor antagonist that raises serum sodium levels and promotes free water secretion. Vaprisol was approved by the U.S. Food and Drug Administration in 2005 for euvolemic hyponatremia and in 2007 for hypervolemic hyponatremia. For full prescribing information, visit </font><font style="font-family:inherit;font-size:12pt;color:#0000ff;text-decoration:underline;">www.vaprisol.com</font><font style="font-family:inherit;font-size:12pt;">.</font></div><div style="line-height:174%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-bottom:13px;padding-top:8px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">About Cumberland Emerging Technologies (CET)</font></div><div><br></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-bottom:13px;padding-top:8px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Cumberland Emerging Technologies, Inc. (</font><font style="font-family:inherit;font-size:12pt;color:#0563c1;text-decoration:underline;">www.cet-fund.com</font><font style="font-family:inherit;font-size:12pt;">) is a joint initiative between Cumberland Pharmaceuticals Inc., Vanderbilt University, LaunchTN, and Gloria Pharmaceuticals. The mission of CET is to bring biomedical technologies and products conceived at Vanderbilt University and other regional research centers to the marketplace. CET helps manage the development and commercialization process for select projects, and provides expertise on intellectual property, regulatory, manufacturing and marketing issues that are critical to successful new biomedical products. CET's Life Sciences Center, located in Nashville, Tennessee, provides laboratory space, equipment and infrastructure to early-stage life sciences companies. </font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div><a name="s839596E683E55E2283D7D63BF6B44123"></a></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Forward-Looking Statements</font></div><div style="line-height:120%;padding-top:10px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">This announcement contains forward-looking statements, which are subject to certain risks and reflect Cumberland's current views on future events based on what it believes are reasonable assumptions. No assurance can be given that these events will occur. As with any business, all phases of Cumberland's operations are subject to factors outside of its control, and any one or combination of these factors could materially affect Cumberland's results of operations. These factors include market conditions, competition, an inability of manufacturers to produce Cumberland's products on a timely basis or failure of manufacturers to comply with regulations applicable to pharmaceutical manufacturers, maintaining an effective sales and marketing infrastructure and other factors discussed in the Company's most recent Form 10-K and subsequent 10-Q's as filed with the SEC. There can be no assurance that results anticipated by the Company will be realized or that they will have the expected effects. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date hereof. The Company does not undertake any obligation to publicly revise these statements to reflect events after the date hereof.</font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:91.6015625%;border-collapse:collapse;text-align:left;"><tr><td colspan="3"></td></tr><tr><td style="width:48%;"></td><td style="width:3%;"></td><td style="width:49%;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="padding-top:10px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Investor Contact:</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="padding-top:10px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Media Contact:</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Erin Smith</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Rebecca Kirkham</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Corporate Relations</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Lovell Communications</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(615) 255-0068</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(615) 297-7766</font></div></td></tr></table></div></div><div style="line-height:120%;padding-top:10px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SOURCE: Cumberland Pharmaceuticals Inc.</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">- MORE -</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div><br></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div><a name="s9A5A550547965F38AE56D3022D92C2AC"></a></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-top:24px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">CUMBERLAND PHARMACEUTICALS INC. AND SUBSIDIARIES</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Condensed Consolidated Balance Sheets</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">(Unaudited)</font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="8"></td></tr><tr><td style="width:67%;"></td><td style="width:1%;"></td><td style="width:14%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:14%;"></td><td style="width:1%;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">March&#160;31, <br>2016</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">December 31, 2015</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">ASSETS</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Current assets:</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Cash and cash equivalents</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">36,440,779</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">38,203,059</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Marketable securities</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">14,866,218</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">14,564,115</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Accounts receivable, net of allowances</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4,822,800</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">6,077,120</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Inventories</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4,073,689</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4,270,143</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other current assets</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4,719,427</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3,997,637</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:top;padding-left:52px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total current assets</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">64,922,913</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">67,112,074</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Property and equipment, net</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">558,184</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">536,450</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Intangible assets, net</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">21,027,967</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">21,168,596</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other assets</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,696,670</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3,101,839</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:top;padding-left:84px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total assets</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">89,205,734</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">91,918,959</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">LIABILITIES AND EQUITY</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Current liabilities:</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Accounts payable</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4,067,318</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,877,479</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other current liabilities</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">7,070,818</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">9,534,268</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:52px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total current liabilities</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">11,138,136</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">12,411,747</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Revolving line of credit</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,700,000</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,700,000</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other long-term liabilities</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,048,880</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">987,429</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:top;padding-left:52px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total liabilities</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">13,887,016</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">15,099,176</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Commitments and contingencies</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Equity:</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Shareholders&#8217; equity:</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;padding-left:84px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Common stock&#8212;no par value; 100,000,000 shares authorized; 16,296,778 and 16,379,501 shares issued and outstanding as of March 31, 2016 and December&#160;31, 2015, respectively</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">56,105,786</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">57,338,294</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:84px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Retained earnings</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">19,296,503</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">19,549,614</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:top;padding-left:108px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total shareholders&#8217; equity</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">75,402,289</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">76,887,908</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Noncontrolling interests</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(83,571</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(68,125</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:top;padding-left:52px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total equity</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">75,318,718</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">76,819,783</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:84px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total liabilities and equity</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">89,205,734</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">91,918,959</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr></table></div></div><div><br></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div><a name="s5EC51154396354F1883EED51DAEE5F0B"></a></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">CUMBERLAND PHARMACEUTICALS INC. AND SUBSIDIARIES</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Condensed Consolidated Statements of Operations and Comprehensive Income (loss)</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">(Unaudited)</font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="9"></td></tr><tr><td style="width:68%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:13%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:13%;"></td><td style="width:1%;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Three months ended March 31,</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2016</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2015</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Net revenues</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">7,737,532</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">8,686,774</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Costs and expenses:</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Cost of products sold</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,223,939</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,161,841</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Selling and marketing</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3,698,962</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3,530,915</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Research and development</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">706,472</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,859,012</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">General and administrative</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,077,972</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,644,141</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Amortization</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">530,770</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">486,749</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total costs and expenses</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">8,238,115</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">8,682,658</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Operating income (loss)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(500,583</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4,116</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Interest income</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">77,129</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">56,402</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Interest expense</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(20,442</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(15,550</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Income (loss) before income taxes</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(443,896</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">44,968</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Income tax (expense) benefit</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">175,339</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(18,456</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Net income (loss)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(268,557</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">26,512</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Net loss at subsidiary attributable to noncontrolling interests</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">15,446</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">19,769</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Net income (loss) attributable to common shareholders</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(253,111</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">46,281</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Earnings (loss) per share attributable to common shareholders</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">- basic</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(0.02</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">- diluted</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(0.02</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Weighted-average shares outstanding</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">- basic</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">16,341,481</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">17,012,852</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">- diluted</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">16,341,481</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">17,405,019</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Comprehensive income (loss) attributable to common shareholders</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(253,111</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">46,281</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:top;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Net loss at subsidiary attributable to noncontrolling interests</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">15,446</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">19,769</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total comprehensive income (loss)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(268,557</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">26,512</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div><br></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div><a name="s07DAC5FBBB8856A2BD9DFE3D307524A6"></a></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">CUMBERLAND PHARMACEUTICALS INC. AND SUBSIDIARIES</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Condensed Consolidated Statements of Cash Flows</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">(Unaudited)</font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="8"></td></tr><tr><td style="width:66%;"></td><td style="width:1%;"></td><td style="width:15%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:14%;"></td><td style="width:1%;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Three months ended March 31,</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2016</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2015</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Cash flows from operating activities:</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Net income (loss)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(268,557</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">26,512</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Adjustments to reconcile net income (loss) to net cash provided by operating activities:</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;padding-left:52px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Depreciation and amortization expense</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">582,093</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">561,248</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:52px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><font style="font-family:inherit;font-size:10pt;color:#000000;">Deferred tax benefit</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">204,067</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:top;padding-left:52px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Share-based compensation</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">174,778</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">246,475</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:52px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Excess tax expense (benefit) derived from exercise of stock options</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">427,993</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(18,558</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:top;padding-left:52px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Noncash interest expense</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">13,933</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">8,051</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:52px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Noncash investment gains </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(46,577</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(20,818</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:top;padding-left:52px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Net changes in assets and liabilities affecting operating activities:</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:84px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Accounts receivable</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,254,320</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">329,862</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:top;padding-left:84px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Inventory</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">196,454</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">966,254</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:84px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other current assets and other assets</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(534,621</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">130,321</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:top;padding-left:84px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Accounts payable and other current liabilities</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(1,483,998</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(251,261</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:84px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other long-term liabilities</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">78,602</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">55,735</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:top;padding-left:52px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Net cash provided by operating activities</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">598,487</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,033,821</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Cash flows from investing activities:</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Additions to property and equipment</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(73,057</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(108,658</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Purchases of marketable securities</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(1,166,218</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(1,500,000</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Proceeds from sale of marketable securities</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">910,692</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,497,114</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Additions to intangible assets</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(624,898</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(2,062,321</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:top;padding-left:52px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Net cash used in investing activities</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(953,481</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(1,173,865</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Cash flows from financing activities:</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Exercise of stock options</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">12,000</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Excess tax (expense) benefit derived from exercise of stock options</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(427,993</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">18,558</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Repurchase of common shares</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(979,293</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(1,711,802</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:52px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Net cash used in financing activities</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(1,407,286</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(1,681,244</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:top;padding-left:52px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Net decrease in cash and cash equivalents</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(1,762,280</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(821,288</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Cash and cash equivalents at beginning of period</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">38,203,059</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">39,866,037</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Cash and cash equivalents at end of period</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">36,440,779</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">39,044,749</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr></table></div></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div><br></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div><a name="s734DB48B48A35D53B13D4636FB73CADC"></a></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-top:5px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">CUMBERLAND PHARMACEUTICALS INC. AND SUBSIDIARIES</font></div><div style="line-height:120%;padding-top:5px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Reconciliation of Net Income (Loss) Attributable to Common Shareholders to Adjusted Earnings and Adjusted Diluted Earnings Per Share</font></div><div style="line-height:120%;padding-top:5px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(Unaudited)</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:16px;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="17"></td></tr><tr><td style="width:48%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:10%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:10%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:10%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:10%;"></td><td style="width:1%;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Three months ended March 31, 2016</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Three months ended March 31, 2015</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Earnings impact</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Earnings per share impact</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Earnings impact</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Earnings per share impact</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Net income (loss) attributable to common shareholders</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(253,111</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(0.02</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">46,281</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Less: Net loss at subsidiary attributable to noncontrolling interests</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">15,446</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">19,769</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Net income (loss)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(268,557</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(0.02</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">26,512</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Adjustments to net income (loss)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Income tax expense (benefit)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(175,339</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(0.01</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">18,456</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:top;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Depreciation and amortization expense</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">582,093</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">0.04</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">561,248</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">0.03</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Share-based compensation (a)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">174,778</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">0.01</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">246,475</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">0.01</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:top;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Product label expansion fees (b)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,167,600</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">0.07</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Gain on contingent consideration (c)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(381,037</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:top;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Interest income </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(77,129</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(56,402</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Interest expense</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">20,442</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">15,550</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Adjusted Earnings and Adjusted Diluted Earnings Per Share</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">256,288</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">0.02</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,598,402</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">0.09</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:13px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:13px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:13px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:13px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:13px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:13px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:13px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:13px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:13px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Diluted weighted-average common shares outstanding:</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">16,341,481</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">17,405,019</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr></table></div></div><div style="line-height:120%;padding-bottom:10px;padding-top:16px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div><br></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-bottom:10px;padding-top:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">The Company provided the above adjusted supplemental financial performance measures, which are considered "non-GAAP" financial measures under applicable Securities and Exchange Commission rules and regulations. These financial measures should be considered supplemental to, and not as a substitute for, financial information prepared in accordance with Generally Accepted Accounting Principles ("GAAP"). The definition of these supplemental measures may differ from similarly titled measures used by others.</font></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Because these supplemental financial measures exclude the effect of items that will increase or decrease the Company's reported results of operations, management strongly encourages investors to review the Company's consolidated financial statements and publicly filed reports in their entirety. A reconciliation of the supplemental financial measures to the most directly comparable GAAP financial measures is included in the tables accompanying this release.</font></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Cumberland's management believes these supplemental financial performance measures are important as they are used by management, along with financial measures in accordance with GAAP, to evaluate the Company's operating performance.  In addition, Cumberland believes that they will be used by certain investors to measure the Company's operating results. Management believes that presenting these supplemental measures provides useful information about the Company's underlying performance across reporting periods on a consistent basis by excluding items that Cumberland does not believe are indicative of its core business performance or reflect long-term strategic activities.  Certain of these items are not settled through cash payments and include: depreciation, amortization, share-based compensation expense and income taxes.  Cumberland utilizes its net operating loss carryforwards to pay minimal income taxes.  In addition, the use of these financial measures provides greater transparency to investors of supplemental information used by management in its financial and operational decision-making, including the evaluation of the Company's operating performance.</font></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">The Company defines these supplemental financial measures as follows:</font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:24px;"><font style="font-family:inherit;font-size:12pt;">&#8226;</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Adjusted Earnings: </font><font style="font-family:inherit;font-size:12pt;">net income adjusted for the impact of income taxes, depreciation and amortization expense, share-based compensation expense and other income and interest expense.</font></div></td></tr></table><div style="line-height:120%;text-align:justify;padding-left:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#160;</font></div><div style="line-height:120%;text-align:justify;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(a) Represents the share-based compensation of Cumberland.</font></div><div style="line-height:120%;text-align:justify;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;text-align:justify;padding-left:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(b) Represents Cumberland's fee paid to the FDA in connection with a request for expanded pediatric labeling for Caldolor.</font></div><div style="line-height:120%;text-align:justify;padding-left:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:justify;padding-left:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(c) Represents Cumberland's reduction in contingent liabilities as the result of a reduction in the cost of the Vaprisol acquisition. </font></div><div style="line-height:120%;text-align:justify;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#160;&#160;&#160;&#160;</font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:24px;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">&#8226;</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Adjusted Diluted Earnings Per Share:</font><font style="font-family:inherit;font-size:12pt;">&#32;Adjusted Earnings divided by diluted weighted-average common shares outstanding. </font></div></td></tr></table><div style="line-height:120%;text-align:justify;padding-left:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div><br></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div>	</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>cumberlandpharmaimageaa01.jpg
<TEXT>
begin 644 cumberlandpharmaimageaa01.jpg
M_]C_X  02D9)1@ ! 0$ W #<  #_VP!#  (! 0$! 0(! 0$" @(" @0# @("
M @4$! ,$!@4&!@8%!@8&!PD(!@<)!P8&" L("0H*"@H*!@@+# L*# D*"@K_
MVP!# 0(" @(" @4# P4*!P8'"@H*"@H*"@H*"@H*"@H*"@H*"@H*"@H*"@H*
M"@H*"@H*"@H*"@H*"@H*"@H*"@H*"@K_P  1" #3 Z # 2(  A$! Q$!_\0
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M@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH ****
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MD+W5_J%T\\\S8ZM(Y+,?J:^CRWA2=:HI8F24>J6K?EY?(\[&8[V5-N!]M_\
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M "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH
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M (N_$74?$)D!9]*A'V+2U_V1:Q-F1?:=Y>]<]\.3^[C4# "@!1T Q7I.L_\
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M "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH
M**** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ H
MHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BB
MB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** $9E1=S' '>O'_VQ
M_P!K[P'^R1\-F\6Z^POM7O\ =;^'/#\4NV74;D#.,X.R-00SR$85?5BJGT#X
MJ_$KP9\(?AUK7Q,\?ZU%8:1H5A)>:A<R'[L:#. .K,> JCEB0!R17X@_'?\
M:<\9_M<?&^_^,/B^22&&4_9]"TDR933+%6.R$8XW'[\C?Q.QYVA0/9RC*Y9A
M4<Y:0COY^1S5ZWL].IZ-J7Q1\??&_P"(5U\4OBCKIU'6;[Y-ZJ4AM8 Q*V\"
M9/EQ+Z=6.68LQS7K?P[^Y%]17@OP\!;R\#/3I7MG@CQ-H>GWD.D2WRRWSX,6
MFVL;SW4O^Y!$#(__  %37TN,IPIQ2222V78RIW>Y]&_#G[D?T%>DZS_R /\
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MCSZ^:9?A:GLZM1*78_86BOQW'_!W?\*/^C*O$'_A80?_ "/1_P 1=_PHZ?\
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M^W5I_P 4VM? ?Q:6#3?$3A8[2_BPEKJ3=, '_52G^X20W\)_A'TDC;U#8Q0
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MA2O]P_2DAYCZ=S_.E?[A^E?E4%96/OWL?QV?M9_\G4_$S_LH.L_^ETU?H_\
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M3YI=HV0ZCX!>-2?0O'>N1^"FOW HKXR/%F?Q=_;?A'_(^H?#N3O_ )=?B_\
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MU3#8I>_#X?/R^6_H><_%CQY^T;_P5\_;Z?4],TV2^\3^/]<2QT#2O-8PZ79
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MGX1\%_M4_$?2-*TZ!8;#2]+\;W]O;VT0Z)'''*%11V  %5/VL_\ DZCXF?\
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MKB&>0QC2_M%-O7EM?Y[/T/SG(XYQ*,W@6DKJ][>=M_F<'_Q%VV/_ $9-<_\
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MOSS6VI]B_A/Y$_\ @HM_R?[\:O\ LJFO?^E\U?T4?\$ /^40_P '/^O#5?\
MT\7U?SK_ /!1;_D_WXU?]E4U[_TOFK^BC_@@!_RB'^#G_7AJO_IXOJ_2^+?^
M1%A_6/\ Z2?#</?\CFO_ -O?^E(^QJ***_-3[H**** "@G%%8_COQEH/P_\
M"NH>-/%.K16.F:58S7>H7D[ )##&A=W8GL ":+-M)=T%TM6?F[_P<L?M\']G
MK]E./]EWP/K?E>*?BAO@O3%*?,L]&C;_ $A_5?-;$ ]5,WI7Y\_\&WW["#?M
M2_MF)\=O&6D>=X3^%9CU,B:/]W<ZNQ8V<0/<QLIG/IY2#^*OF3_@I/\ MG>(
M?V]/VPO%O[06IW$XTNZO39^%;&7C['I4)*VZ8' 9E_>/ZO(YKZ<_X)L_\%Z]
M._X)O_LX6OP%\#?LA6&LW#ZE<:AKGB"X\5-!+J-U(<!V06[;0L:QQJ,GA,]2
M:_5:>4XW+N&_JV&A>K4^+RO_ )+3\3\\GF6%Q6>>UQ$OW<-OEMM?KJ?T=PQ"
M.'RR@QSQ7YS?\')'[!G_  U#^R"GQW\"Z&LOB_X5B;45,,7[R[TEP/M</'+%
M-J3*.WEOC[QKY@_XB\/&/_1DVE_^%K)_\BU7U/\ X.V_$.LV,VF:I^PWI%Q;
MW$313PR^,Y"LB,,,I'V7D$'&*^9P'#_$6 QD,13I:Q=]UKW6_8][&9WD>,P\
MJ,ZNDO*7^1\8?\$2OV^;G]@_]M71M?\ $NKR0^"?%X31?&,;.?+BAD<>3=D>
ML,I5B>NQI /O5_499WUM>0Q2V\RR+)$'1T;(8$9!![U_&7\0-<\-^(_'>L^(
M?!?A;^PM*O\ 5)KC3-&%R9OL$#R%D@$A WA 0H) )VYK^B__ (-V?^"@,?[7
M/['UO\)?'6N^?XV^&$<>E:CYSYDO-/QBSN?4X1?)8\G=#D_?%>OQKECG".80
M793_ $?Z/Y'G\+Y@H.6#D]-7']5^OWGZ&44B,'7<K9![BEK\YZ'VCV/Y@O\
M@X9_Y2S?$O\ ZY:5_P"FZWK]F?\ @W/C1_\ @D7\,-Z XN=>ZC_J-WU?C+_P
M<,_\I9OB7_UQTK_TW6]?LY_P;F_\HBOAC_U\Z[_Z>[ZOT/B&_P#JIA/^W?\
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MTKP'QY^Q_P"-OAB\FM>!+F;Q)I2_,]L8P+^!?]U %G '9 K^BL>:^LJ",C%
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MEF%]@J#EK>^JW^3/ZS/^&C/V>^G_  O;P;_X5%I_\<I)/VC?V?51F'QU\&Y
M)Q_PD]I_\<K^33_AA+]MG_HT?XD?^$7??_&J/^&$OVV>W[(_Q(_\(N^_^-5Y
M*X,P+?\ O:^Y?_)'H_ZS8[_H&?WO_(_57_@Z9_;,^!/Q+^$G@']F_P"&7Q2T
M3Q#KEIXKEUK6(-"U**Z6QACMI(8Q*T;$([F9L*3G"$D 8S\F_P#!M5:74_\
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M2>!6=7@_!4Z4I+%IV3>R_P#DC2EQ)C:E6,7AFKM+K_D?U8@Y/\J\9_X*/?\
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MQ)UJXL;VT\(WDL4\3WLK(Z.L9#*0001U%>2_\,*_MM;=O_#(_P 2/_"+OO\
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MYT6[V>_ET9]AAZRQ-"-2UN9?CV/Y@O\ @X9_Y2S?$O\ ZXZ5_P"FZWK]G/\
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M1E Z!P#B0>S BO0_!O\ P5:^./@-%L_B#X;TKQ3;H &E_P"/.Y(]2Z*T9/\
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MCN)L3.=HHV+G(4?E2T4;B=Q-HZD"D,:\X49/?%.HH!:"*BIT4#Z"EHHHLEL
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M=5O4BFU24.B&.!3S(VZ6,8'=U]:] C8L@8CK7Y/_ /!>[_E(K^Q%_P!C_/\
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M>R7=O9'Z$_ O]H[X'?M)^%Y_&WP)^+&@^+=(M[LVLNH:%J"3QQSJ 6C8J>&
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M=*\3Z!<RR10:OHUTL\$DD;%74.O!(((/H:ZVO@+_ (-H?^44WA;_ +&;6?\
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MPDZR5VD?JO:S-.I<].V1BDU"[CL;1[R:542-2TCMT4 9)HLO]6?]XU0\<?\
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M^Q5B*^DCF$<)A,%46J2FI+NF]5\T>%]4EB:^*B]+\K3\TM']Y\1?M\_\%=/
M7PV_X)9Z=^UE\$M81M=^*.CK8^ +5)%::WU"9&29B%YW6N'W#_GI&JG[U<5^
MRU^P;+^P_P#\$1OBG!XUL"/'GCCX;ZSKWC6YG7,R3R6$ACM6)Y/E(<$'_EH\
MA[U\[_L*_P#!%#]HCPW_ ,%((/A[^T)9:S?_  +^#'B&[U[P'-JBE[#59IY(
MY+>.%6RI.Y(GF7&,P%3]_-?J[^W3X3\0>,_V-/BCX(\&:'<:EJNJ^ -6L].T
M^RA+RW$\MI(D:*HZLS$ ?6KQ=3"9<Z>%PL^92E&4FNU_=3]%J_,,/&OBXSKU
MXV:3BEYM>\_F]%Y'R_\ \&T/_**;PM_V,VL_^ECU]^U\3_\ ! /X+_%O]GW_
M ()P^'OAC\;?AUJWA?Q!:^(-5EN-(UFT,,\<<ET[(Q4] 5Y%?; Y&:\G.91G
MFM:47=<S_%GH9:I1RZBI*SY5^""O(OVY/VM_ _[$'[,WBG]HWQ\8Y+?0=/+6
M%DTNUKZ\?Y8+9?=Y"HR.@R>U>M7+,EN[*>0IQS7Y8?\ !5SX _M:_P#!3']O
M/X;_ +'UE\)_%6C? WPMJ"7WC#QI-9/%9:A.R[Y2DAX<I"##&?\ GI-(>@S4
M970HXK%I59)05W*^FBU:7=O;0K'5:U+#/V2O)Z+U??R/G?\ X(K?M\?L(_ G
MQ!\1_P!LK]M[]I&UC^,7Q*UJ87$,FB7LQT^QWB1E5HXG4>;)@[0QVI#$..17
M8?\ !;?]O3_@F!^W5^S/:ZK\%OVFK;_A9_@+54U?P3+%H=_#).VY1-;>:\("
M;E"R*20-\"= 2:_6CP_^RK^S7X?TJWT33_V?O!4=M:0)#;I_PC%J=J*-JC)C
M] *LW?[-?[/#PE4^ W@Q2>A7PO: _P#HNO5><8+Z^L6J<^9;>\K62M:W+M;2
MQYT<MQGU3ZNYQY7OH[WWO>^]]3PO_@CQ^WOIO_!0+]C;P]\2=3O8CXNT2,:1
MXVME;YEOXD4&;'99DV2CL"Y7^$U]6U^3_P (?V5?VF/^"7W_  6/UG6_V??@
MCXCU_P" ?Q<5&UD^']->:VT":9B5+A.$$%QN(P.+>8CJ*_5RT8O"'))STS7G
MYMA\/2Q/M,.U[.:4EKJK[I]K,[\OJ5YX?EK+WXZ/S\UZHDK\N?\ @ZY\%^*-
M<_8;\$>,])M);C3/#OQ+@EUF*,$B-);.YCCE;T4.1'GUF'K7ZC5QOQ]^"/P\
M_:0^$VM_!#XK^'(M5\.^(K%[35+*;C<AY#*1RKJP5E8<AE![5AEV,6 Q].N]
MHO\ #K^!6.H?6L).C>W,C,_9-^)W@GXO?LV> ?B'\.;N*XT75_!^GW&GR0$;
M50P(/+('W60@H5_A*D'D5Z*#FOR<^%_[.7_!5O\ X(N:_?\ A?\ 9A\'I^T'
M\#+B]EN;'PH+_P"SZQHH8EG\M2#ALY)$8D20Y8I&S&O5K/\ X+QZ_!9_8?$'
M_!+#]IF#6E^1[*V\#"6W\S!X\\NIQG'.RNNOE-:K5<\*U4@]FI*__;R;33[G
M/2S",(*.(3C)=T[/T:NF?H;17YK^#/BI_P %K_V]?CUX9\5>$_ #?LT?"O0=
M0%UJ'_"3".\U77(SP8WMG7)!4X"%8T4G=O8JH'Z16<=S&I%S+O. ,YZGU]JX
M<7A981QC*46WND[V];:?<SLH8A5[M1:2[JU_3_@V)J;/_JC3JCNG6.!G8' ]
M!7*MS9['X*_\$<_V$?&O[8_Q ^/>H^$_VROB3\*TT/X@&*>W\!:G]G34#)-=
M$/-R,E-I ]F-?= _X(<_&#O_ ,%?_P!HS_PI3_\ %U\H?\$U_%O_  4$_P""
M:OC?XQ0R_P#!+?XI>-[;QSXU?4+&\TVV-LB1QR3A3\T;[PPE!!&.GO7U>/\
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M]RBO#Q=#ZKBIT;WL]UJFNC5CU\/6^L48U+6;Z/IW0DG^K;_=-?DS_P %H?\
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M !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444
M%%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4
M444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !11
M10 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%%
M !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444
M%%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4
M444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !11
M10 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%%
M !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444
+%%%% !1110!__]D!

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
